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CNBC
Dec 4, 2012 11:00pm EST
from the ceo of citi national bank. find out if you should be making a deposit. all coming up on "mad money." >>> don't miss a second of "mad money." follow@jimcramer on twitter. have a question, tweet cramer, #madtweets. give us a call at 1-800-743-thchlt. >> announcer:. miss something? head to "mad money".cnbc.com. >>> with the fiscal cliff looming less than a month away you might think certainly sectors would be getting hammered right now. not the obvious ones like defense. given the defense budget will be cut dramatically if our leaders don't reach a compromise, take retail. if we go over the cliff, something i've been telling you as of this week, more likely by the day, not less, that will deal a huge blow it purchasing power of most americans. think about it. tax rates go up. >> boo. >> the payroll tax holiday goes away. [ buzzer ] unemployment benefits expire for most people -- [ baby crying ] and that's is not even accounting for the layoffs. that's just being cautious. put it together, unless we get a deal, which won't be bad news for the single biggest consumer play out
CNBC
Dec 2, 2012 7:30pm EST
stock market for the week ended. back in a moment. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ all of a sudden, when you have been making them with somebody else for 35 years. i guess there is something in me that has always been strong. i've always gotten through some pretty rough stuff without falling to pieces. ♪ ♪ bp has paid over twenty-threebp billion dollarsnt to the gulf. to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> welcome back. if a
CNBC
Nov 29, 2012 1:00pm EST
rate in the country. and in nevada's second biggest city, one powerful man is concerned the fiscal cliff could bring on an economic reno 911. >> do a quick overview here. you're looking at a county the size of the state of plain. >> reporter: lance gillman is straight out of the wild west. he says he's used cash to build the tahoe reknee industrial center, a growing manufacturing and distribution hub. >> it's the largest fee-owned property in the state of nevada. >> reporter: he's been elected county commissioner and he owns a famous brothel. the mustang ranch. you have to be the most diversified businessman in america. wouldn't you say? >> i have a diversified portfolio. >> reporter: gillman is a republican in a state represented by one of america's most powerful democrats, harry reid. >> he's been a friend to the state of nevada. so certainly i supported his campaigns. >> reporter: but he doesn't agree with reid on everything and he's worried about the fiscal cliff in a region recovering more slowly than the rest of the nation. >> to me, our world is tied to confidence. confidenc
CNBC
Dec 5, 2012 4:00am EST
government motorcade was driving through. this happens all the time in chinese cities and it's not just for the very top officials. this last one, newspapers in china often have the faces of leaders on the front, no matter how mundane the story. the latest reforms want more real content. all of these reforms, they have a common objective. she wants the government to regain the public's trust. back to you. >> the new leadership also set some key economic priorities, which had a big impact throughout asia today. sixuan has the details. hi, sixuan. >> hi, thanks, ross. some call it a shanghai surprise. mainland markets staged a strong rebound. this called for economic stability by boosting domestic demand, keeping property curbs. the shanghai composite jumped nearly 3%. the ipo pipeline may be on hold. financials, commodities and infrastructure are among the top gainers today as investors take advantage of cheap valuations. the hang seng followed suit and declined to a 16-month high. insurance surged 5% after hsbc explored a stake group. the nikkei closed at a seven-month high. shares
CNBC
Dec 3, 2012 5:00pm EST
tonight. >>> live from the nasdaq market site in new york city's times square i'm melissa lee. first taxes don't data. what about taxes. his take on the cliff hanger and why investors shouldn't worry about taxes. and dell trade or trap? goldman jumps on the band wagon. 2012 gold rush. why are americans stocking up on gold coins? is it another way to say diversify? we have to get straight to our top story and tonight that is will the cliff ruin christmas? the rhetoric cnbc has the latest including the white house response to the gop proposal. >> just within the past few minutes we have gotten the white house's response to the boehner counter proposal to the white house proposal last week. the white house doesn't like the proposal from bane kpp today. dan fifer saying the republican la letter does not meet the balance and sticks the middle class with the bill. clearly what we are seeing is a negotiation. the white house doesn't like what they have been presented and now the offers and counteroffers will continue to fly and will start to get a little more close to one another. neither o
CNBC
Nov 29, 2012 3:00pm EST
-800-345-2550 and open an account, tdd# 1-800-345-2550 now with no trade minimums. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. >>> welcome back. there's a live shot of the podium in washington. we are waiting for nancy pelosi to come out to discuss her meetings today on the fiscal cliff. timothy geithner out speaking with ms. pelosi among others talking about ways these two sides can come together. as soon as nancy pelosi takes to the podium, we'll take you there live. >> eamon javers standing by there in washington. what can we expect to hear from her? all day long wae've been hearin from both party sides. i can imagine we'll hear the same thing from nancy pelosi, the minority leader i
CNBC
Dec 5, 2012 5:00pm EST
from the nasdaq market site at new york city, time scare, it's melissa lee. geithner and the fiscal cliff. is he pushing us closer to or farther from the fiscal cliff. and doubling down on dividends. we've got an out of the box ets flight that can get you in on the pay day windfall that's taking shareholders by storm. plus, linked-in gets original. the executive editor will reveal why the company's move into original content could be a game changer. we'll get to those trades in a minute. let's get to the top story right away. apple misses the rally. the dow closed at a one month high but the trouble continues for apple posting its worst day in nearly four years. the stock falling back into bear market territory weighing on the nasdaq throughout the entire session in terms of price action, terrible. pretty heavy volumes closing two pennies off the low of the session deep. >> it was terrible. i'm trying to be measured here because i understand how -- >> you don't want to insult apple. >> that's not what we're attempt to go do. we're trying to help them. last night to a person we thoug
CNBC
Nov 29, 2012 6:00am EST
. zero heartburn. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander-in-chief of your own life. ♪ >>> now the answer to today's aflac trivia question.
CNBC
Dec 7, 2012 9:00am EST
river. the whole river walk has been redone unlike anything anyone has seen in an american city. we're very excited about it. >> dan, thank you. thanks for the work you're doing. appreciate you joining us today. have great weekend, everybody. right now it's time for "squawk on the street." >> up 146,000, that's the jobs numbers for november. unemployment at 7.7. that's the lowest in exactly four years. good morning. welcome to "squawk on the street." i'm carlos gutierrez with jim cramer, david faber and melissa lee. questions remain about the internals. europe is reacting to a miss on german industrial production and some reports at least that some ecb members favored a rate cut yesterday. our road map will go like this. that puzzling jobs number beating virtually every wall street estimate as the labor department says sandy had only a minimal effect. is it true a clean number and what are conspiracy theorists saying. >>> a comment hastings made last july. what does it say about s.e.c. rules and whether they are out of date. >> mcdonald's will post same store sales on monday get
CNBC
Nov 29, 2012 5:00pm EST
pop for the concrete jungle. sometimes new york city can be a wild place. staten island residents were shocked to see a full-grown zebra chasing a pony down a busy street. the elusive e kwiens escaped from their enclosure and decided to take a lap down, appropriately named, victory boulevard. after earning their stripes, the zebra and pony were returned unharmed. >> is that a male zebra chasing -- >> are they different -- i mean -- >> zebras don't know. i'm just saying. >> i've seen that strange couples thing. just saying. >>> coming up next, guy and his suspenders will take a victory lap. he also has some explaining to do. find out as we hit the good, the bad, and the ugly. stay tuned. at merrill lynch, we understand the importance of your goals. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a steadfast commitment to help you achieve your financial goals in life. that's the power of the right advisor. that's merrill lynch. >>> let's get a market flash. supervalu plunging 18%
CNBC
Dec 4, 2012 7:00pm EST
. you have the customers of the ports and the city saying fix this. when it comes to the president in this economy. we are 8 days in and he hasn't started the process of reconvening the board. >> the board is already so pro union as is the president fresh off his re-election even though this is not going to be a california emergency, this could be a national emergency for closing down those huge ports. that is it for tonight's show. thank you for watching. we will see you tomorrow night we need premarket capitalism. not a union hold up. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. it's no wonder so many investors are saying... when you take a closer look... ...at the best schools in
CNBC
Nov 30, 2012 6:00am EST
as you might imagine in spots up like towards the twin cities and even over towards chicago. but then out west, that's where the trouble really brews. it's that time of year that there's norm lay big area of high pressure that sets up off the west coast. that's gone and that allows all the pacific moisture to come through. high snow will be an issue. rain in seattle. so how is it going to affect your travel? a little bit of a trend continuing here. again, all your issues out towards the west. san francisco, major delays expected. same deal over in oakland. a lot of your shawl airports will have backups there. seattle moderate delays. but so far in los angeles and in chicago, even detroit, only minor delays. overall not a bad weekend with the exception again out to the west coast. back to you. >> glad we're on the east coast. >> all right, wolf. no, reynoldss. either way -- >> i answer to anything. >> but -- >> he wants you to flip it. he likes wolf reynolds. >> he claim that's his real name. >> and reynolds is his mother's maiden name. >> so he says. >> there you go. >> thank you reyn
CNBC
Nov 30, 2012 9:00am EST
than the lines in new york city for starbucks? i think the answer is he's got a good story. >> provocative point of view. apple getting approval for iphone 5 in china. a piece in the journal today suggests they waited too long because android now has a really big share of phones that sell for 400 bucks or more. >> they needed clearance from chinese regulators. you can't just go into china and unload a bunch of iphones. you need clearance for it. the share did go down by 10% because people had to wait. >> the chinese government had been definitely a stumbling block there and people are very excited about it. they really like android over there. i defaulted to david from "the new york times" as saying there are 275,000 apps for apple. one of the develop storingie ii looking at is chinese products to california to the rest of the country and there's a lot of ports being shot. >> national retail federation said that a lot of product for the holiday season is already in the stores. so maybe it won't be a huge impact and maybe that product can be routed to other ports to mexico a
CNBC
Dec 6, 2012 12:00pm EST
market, company saying it plans to open more higher margin pizza hut stores in smaller cities where the competition is less and the costs are less as well. >> joe, news like this coming out from the ceo making what are perceived to be fairly positive comments after what were incredibly negative metrics in comments regarding china wouldn't the stock be up more than 1% if the street liked what he was saying? >> i don't think so. i think there's a lot of negativity off the earnings the other day. i bought the stock the other day. you know that, and i left myself a long runway in essence to be incorrect on the purchase. it's not about timing. it's about the thesis and understanding that i think in 2013 yum, which is so tethered to the chinese economy, i think that economy turns around. ultimately i think yum is in an excellent position, they're doing well domestically in the u.s. with taco bell and pizza hut and i think the growth and expansion in china will come back. >> well, a crude reality for oil today, the commodities sliding roughly 2% so how low can black gold go? we'll make a p
CNBC
Nov 30, 2012 1:00pm EST
certain cities such as phoenix, this has already happened. home prices in phoenix are up over 20% from a year ago on the s&p case schiller home price index. prices are also rising fast. in las vegas, parts of california, and even in florida. another concern is that prices overall are rising faster than income growth and that does not bode well for non-investors either. this phenomenon is playing out largely in those formerly very hot markets that crash the hardest. there are still some great deals for investors in places like chicago, atlanta, even right here in d.c. before you take me off, i got one thing. someone wrote in to the blog today really right down the line of what we're saying. he says people are buying homes out here in new orleans stupid fast. but the problem is they're investors and they're renting them all out. >> very good point. diana, thanks. good to see you. ty, down to you. >>> the german parliament approved a new bailout package for greece. meanwhile, unemployment hits a record high in the eurozone but european central bank chief mario draghi expects the economy t
CNBC
Dec 3, 2012 2:00pm EST
. makes new york city traffic look down right peachy! >>> collection it out, china's northwest hammered by relentless snow since last week. snow and fog have shut down multiple airports. >>> let's warm things up. right? we need a little sunshine. super value is the stock that we've chosen today because it is up by 10%. it has been troubled but super value's entire business may be for sale or just the albertson's stores. it is not clear if a deal will be reached but nonetheless, investors plowing in with their feet. >>> call it the millionaire downgrade. could a big chunk of america's millionaires simply vanish if we go over the cliff? robert frank, are we talking like john mcafee going missing or we just saying we're not going to be millionaires anymore because we're not going to sell into these tax rates? >> belize is not big enough for all these missing millionaires. it is more like a downgrade. we're talking about the wealthy getting a little less wealthy if we go over the cliff and fewer people becoming wealthy. the u.s. has run 5 million millionaires with a total wealth of $18 trillio
CNBC
Dec 6, 2012 6:00pm EST
very well-run bank. i'm going to -- just so people know. this is kansas city, missouri, and between the chiefs and commerce bank, go with commerce. and that, ladies and gentlemen, is the conclusion of the "lightning round." >> the "lightning round" is sponsored by td ameritrade. >>> coming up -- welcome home? you've seen the headlines, the housing market appears to be roaring back to life. but if you think you've already missed the move, think again. tonight, cramer's sitting down with the founder of lumber liquidators. to find out if increased home sales and efforts to rebuild after hurricane sandy could drive it higher. scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] m
CNBC
Dec 6, 2012 4:00pm EST
already finished up their plans for calendar year 2013. certain city tty is the greates we're looking for. getting to a solution almost seems to be as important or more important than the solution itself. you need to know what the plan is. >> what are they saying in terms of 2013? what's the outlook? >> the outlook is as reported. if we go over the cliff, the outlook is less optimistic, obviously. will it be like it was back in 2007? i don't think that's the case. it won't be positive. growth will stymy. it becomes a problem. >> of course, we know businesses today have got, what, $3.6 trillion in cash on balance sheets. are you expecting that cash to go to work in 2013? how will folks allocate that money? >> one of the things that has to happen, based on what we see from want cliethe clients we se there was tax reform, that would accelerate moving that cash. certainty first, tax reform second. >> i guess that's what i'm trying to get at. what are you hearing in terms of executives in terms of what they're going to do now. i understand they want certainty. of course. but what are you h
CNBC
Dec 3, 2012 6:00am EST
and, you know, we're not even allowed to drink like 16.1 ounces in new york city. things are going in a very strange direction. does that factor into your thinking? pizza is not thought of as health food. >> you put a bunch of vegetables on it and it can be healthy. there are some menu labelling issues. >> when are you guys going to follow him right in there? if you look at the ties over here, they're disappearing quickly. >> cold pizza has been a staple for a long time. i think that's going to remain our core entrance into the breakfast market. >> yeah. you don't need eggs, either. it's basically bread, chicken and cheese. that doesn't seem like a -- usually i don't eat anything until like 10:30 or something. and one egg. you really shouldn't do that if you're up at 3:30, right? >> if you're up at 3:30, i think you need a meal. highly recommend pizza. >> how come the holiday sess a bigger time for you, patrick? >> you know, as families start to get together, as the weather gets colder, people tend to stay in. they're out shopping or they're just very busy. and they get home, they
CNBC
Dec 5, 2012 12:00pm EST
can go up. henry blodgett joins us from new york city. good to see you as always. >> thanks for having me. >> and obviously this is a stock that people have tremendous profits in, so to the extend they want to take advantage of lower capital gains, that makes more sense. more fundamentally, they're in sort of a product hold here. they bakley came out with everything in the last few months, we're going to go through this period where they probably won't have anything exciting to announce for a while, now the television has been delayed unit next fall, according to gene muenster. then growth is slowing, and more importantly the margin is likely to compress. that's the big thing that worries me. they're going to go to a lower marge margin of mix products. it's hard to see stocks rise in the face of a compressing market. you have downside protection unless the thing completely falls apart. so i think the valuation is actually help 68 here. >> if apple has a disappointing season, where does the stock go? >> i don't know. i think it would certainly go down. the iphone numbers have been creep
CNBC
Dec 5, 2012 9:00am EST
citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking a quarter of the job cuts are going to come from there. my 2013 predictions i said that group would slim down by half. interesting that they are cutting a big chunk of that group. global consumer banking is responsible for 35% of the cuts and then going on through the other business lines like citi holdings, those are responsible for smaller portion of those jobs. citi getting smaller. a billion dollars going to be the pretax charge in the fourth quarter of next year. 11,000 jobs a big move from the new ceo over there. carl? >> all right. thank you very much, kayla. we're reading through the release right now ourselves. big strategic move. >> how many people work at this bank? i feel like they've been firing forever. citi did nothing after that grea
CNBC
Nov 28, 2012 7:00pm EST
city, iconic here in dallas, great tacos here, you can buy gas obviously by the name but the big ticket has been the big ticket for the powerball. right now tickets selling at about $130,000 tickets per minute nationwide. over 1 billion have been sold. the states get $1 out of every two tickets sold and most use for programs for education the federal government will tax the winnings at about a quarter. so they'll make a lot of money out of this. unfortunately in the interest of full disclosure, larry, i think think the winning tickets have about been bought here in dallas. right now i hate to tell you, i think i've got them. >> fess up, jay, how many did you buy? full disclosure? transparency. >> only five. but i may be here a little longer. >> if you win, you're not going to retire, are you? >> i'd never retire. a lot of people say this already, i'd probably be pretty tough to work with if i do win. >> now, let's break down the numbers on this powerball jackpot. they're still selling tickets at blistering rate, 130,000 per minute. let's assume the final prize tonight will be ds
CNBC
Dec 2, 2012 6:00am EST
site in new york city's times square i'm melissa lee. these are the traders here and in beautiful los angeles. stocks eeking out gains as traders wait on washington. while everybody is watching boehner and obama duke it out, a flashing red warning sign emerging for the consumer. shares of yum brands taking a hit on the warning on the outlook for china. what does this mean for the other multinationals. let's get in the monday and find out. dan, this is much more than a single stock story because yum is looked at as a barometer for china growth. >> that's a great point. >> this year as mcdonald's was signaling that china was weakening, chipotle. this year domestically, we're starting to see sales trends weaken. yum was doing fantastically in both regions. yum gets it disproportionate from the sales. relative to the competitors in china. about 45%. and a lot of investors were wondering how these guys were bucking the trend for so long. to me this is a little curious. they just gave guidance on china sales on october 10th. to me they may have a bit of a credibility problem. the other one
CNBC
Dec 4, 2012 9:00pm EST
stronger. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! [ticking] >> when steve jobs returned to apple in 1997, the company had just 5% of the computer market and was almost broke. when jobs died of cancer 14 years later, apple was the second most valuable corporation in the world. in his best-selling biography of jobs, walter isaacson writes that he revolutionized or reimagined seven industries. he did it, isaacson says, by standing at the crossroa
CNBC
Dec 3, 2012 4:00am EST
and not the city of london. and white house and congress may need to call the auto club to jump-start budget talks which has stalled on discussions over taxes. plus singapore airlines confirms it is in talks to sell its 49% stake in virgin atlantic. reports suggest delta amongst the front runners. equities up in the month of november. ahead of the u.s. open, up by a quarter percent for the ftse. quarter for the ibex, as well. by and large the pmi numbers have been slightly better than expected. the revision on the eurozone pmi aunt wasn't on the headline composite number, but new orders were a little bit better. still a long way away from the 6% mark. gilt yields steady. manufacturing pmi better than expected. euro-dollar hit a six week high. dollar kren moyen moving away f 7 1/2 peak. talking about the uk, george osbourne says there's no turning back on austerity just days ahead of his annual statement. he continues to resist opposition calls warning that lack of budget discipline would have serious consequences for the british economy. >> going back on our commitment to deal with ou
CNBC
Dec 2, 2012 11:00pm EST
a building boom in the 1980s. las vegas became the fastest growing city in america until the recession hit it hard. now the population is in decline, and the gaming industry is in desperate shape, but the slowing economy didn't stop wynn from opening his most opulent casino-resort yet, the encore. charlie rose, who has known steve wynn both personally and professionally for about 15 years, was on hand during encore's opening night back in 2008. >> if all of our customers and friends are at the tables, gentlemen and ladies, place your bets. let the games begin. [cheers and applause] >> at 67, steve wynn is a legend in las vegas... >> if you're gonna start a gambling joint, start a gambling joint. >> the man with the midas touch who added glamour to the gambling industry. >> isn't this fun? >> it's perfect. >> even in this recession, thousands came to try their luck at his new casino. >> that's what i'm talking about! >> whoo! >> encore cost nearly $2.3 billion, a risky bet in a bad economy. why, in this economic environment, would you open a hotel? >> well, i'll tell you right
CNBC
Dec 4, 2012 5:00pm EST
the nasdaq market site in new york city's times square i'm melissa lee. first china conundrum. is the chinese recovery in recovery mode? a top strategist is digging through the data. hedgefund head winds are supposed to be some of the smartest on the street but 2012 has not been kind. find out if december will bring rebound or redempson. commodities collapse. breaking down the slide in gold today. first we have to get straight to our top story and that is apple down by 1.75%. could apple's problem be that its growth has, in fact, peaked. well respected strategist out with a note highlighting the multiple which has been in steady decline since 2009. the peak marked by the release of the iphone 3 gs and earnings growth is what the stock needs to go higher. so do you buy that perhaps margins have, in fact, peaked here and that the best is over for apple? >> i have a mic problemb now. if you look at wear google and microsoft have been on the margins this has been a place for the stocks. >> that is a great point. >> magic of live television. >> he strolled in. >> the price action is skimmi
CNBC
Dec 4, 2012 4:00am EST
looking for the city with the best quality of living in the world, then head to vienna. this according to consulting group mercer just published its quality of life survey. zurich number two. baghdad ranked last over concerns over security and political instability. and it is official, a new royal highness is on the way. after week of speculation, the duke and duchess have confirmed they are expecting their first child. the duchess thought to be under 12 weeks pregnant is being treated in a central london hospital for severe morning sickness. book makers have been inundated with bets. and more from twitter, as well. last night the pope announced he'll be using a micro blog to he spread his message. the pontiff says he'll defeat in eight languages. the english language version of it is @pontifex. there you go. will you be following the pope? what is the top news maker? e-mail or tweet us. we'll take a short break. still to come, we'll be back in brussels. finance ministers start debating proposals for a banking union after they also are signing off on debt by back proposals for greece.
CNBC
Dec 4, 2012 9:00am EST
offer a special dividend. that would be still a good thing. >> what's up tonight? >> i have citi national. this is a boutique bank based in california making money for people. i have to find out. they have big business with the ports in california. they also are worried about the fiscal cliff. i have known russell for years. >> we'll see you tonight. >> thank you. >> 6:00 and 11:00 eastern time. the president meeting with governor this is morning about the fiscal cliff. two former governors will offer their perspective. plus, more on what bank of america's brian moynihan told becky this morning. more "squawk on the street" in just a moment. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something.
CNBC
Dec 3, 2012 1:00pm EST
city saying they want a bigger slice of the pie. >>> did you see the 60 minutes investigation on chain hma? why our guest has put the stock at a sell. >>> 2:00 to 3:00 p.m. eastern on "street signs." >>> ubs is loeldi inholding its annual media conference in new york today. david faber has the ceo from charter communications. his first interview from taking the top spot. >> we are here at the ubs media conference. with a guest in the media industry whom i have never interviewed on camera. tom rutledge, ceo of charter communications. 5 million subscribers spread across the country but certainly st. louis still the hub. nice to have you. >> thank you, david. glad to be here. >> you've been ceo of this company for most of this year, let's call it. ten months or so. it's different than cablevision which i ran as coo, the cable part of it, for many years. much more spread out. much lower average revenue per user. how confident are you that you can tackle something that even geographically is very different than what you did at cablevision, not to mention get people to spend more for t
CNBC
Dec 3, 2012 3:00pm EST
get into the cuts coming to state, city, the local governments. that's going to take money out of education, all the things we care about. so, the fact these lawmakers are sitting down and, like, sort of keeping with these opening salvos, it's frustrating. the time is over, bill. you had 13 months. we have 28 days left. >> moving on. we'll do the same, as a matter of fact. we're coming back for the closing countdown. >>> after the bell, spending is not the only thing that will be significantly cut if we go off that cliff. robert frank is describing why the number of millionaires is also facing a cut. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico. fifteen min
CNBC
Dec 6, 2012 11:00pm EST
well-run bank. i'm going to -- just so people know. this is kansas city, missouri, and between the chiefs and commerce bank, go with commerce. and that, ladies and gentlemen, is the conclusion of the "lightning round." >> the "lightning round" is sponsored by td ameritrade. >>> coming up -- welcome home? you've seen the headlines, the housing market appears to be roaring back to life. but if you think you've already missed the move, think again. tonight, cramer's sitting down with the founder of lumber liquidators to find out if increased home sales and efforts to rebuild after hurricane sandy could drive it higher. she also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it's just common sense. from td ameritrade. try running four.ningse. a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charg
CNBC
Nov 30, 2012 12:00pm EST
. citi and deutsche both made just pounding the table buy this stock calls back in october. now look at it. the stock is up better than $12 i think over that same time. so continues to out perform here like the stock. if we go off the cliff this is one of the names sadly that benefits from that kind of turmo turmoil. >> we give a big pop today for caviar. something fishy going on in california's malls. chain of caviar vending machines has sprung up in three l.a. shopping centers. the owner of the machine says she hatched the idea to attract a younger crowd to the caviar market because what goes better with holiday shopping than a $500 can of salty fish egg whites? >> right. >> a caviar guy. >> no i'm not. >> you are. you look like it. >> come on. you got caviar written all over you. >> no. >> saturday night at the white house. >> all right. when halftime returns we're waiting for the house speaker to make some comments shortly regarding the fiscal cliff and we'll take you into that room live when john boehner appears. also a stunning month for facebook. shares are up nearly 30%. you
CNBC
Dec 6, 2012 2:00pm EST
this month's magazine "the atlantic." charles, welcome to the program. joining us from mexico city, i guess somewhat ironically, in a way, because 30 years ago if it were mexican factories taking u.s. work, then that moved largely to china. now some of that is coming back here. how come? >> it's coming back specifically because a company like ge has done the math and they figured out two things. first, the world has changed in the last -- certainly in the last 20 years, and even in the last ten years. transportation costs are higher. labor costs are higher overseas. and markets in this country move much more quickly. even for something like appliances. ge wants to be able to make dishwashers, refrigerators, washers and dryers, put them out on the market quickly. difference in transportation time, it takes five weeks just to get finished products to the u.s. from china. from the factory that they're reviving in kentucky, it takes ge 19 minutes to get the products in to the warehouse and ready to distribute and product cycles even in appliances have been cut in half. people want thei
CNBC
Dec 7, 2012 2:00pm EST
. companies are being able to shift jobs from higher cost cities to lower cost centers in the united states where there is a lot of talent. so more and more jobs are being created here. we know the example of general motors, among others. and it's going to help the economy. so this is a very favorable outcome. >> thank you very much for joining us today, harley. thanks for bringing these jobs back here. >>> the other big issue in the job market -- the lack of skilled workers. it is actually becoming a big issue for builders. diana olick is on that story. diana, what happened to all the construction workers that were out of work a couple years ago? where did they go? >> reporter: well, about 2 million of them, believe it or not, left the workforce during the housing crash. this is residential and non-residential construction. because this crash has gone on for going on five years now, a lot of those workers were retrained in other careers and are actually not coming back to home building. that's why the builders are saying they need skilled workers. skilled workers like these students here a
CNBC
Dec 6, 2012 1:00pm EST
light froze in the red position and that flummoxes about a dozen new york city police officers. i ran alongside -- might as well have been 1880. here we are talking about apple tv. at some point in technology, we got to even up the technology gap. >> thanks so much for being with us, brian. can you see brian's entire exclusive interview with tim cook on rock center, 10:00 p.m. eastern time on nbc. >> can't wait. >>> let's dig a little deeper with our all-star apple panel right now. apple supply chain expert brian blair is with us. he's with wedge partners. cnbc's jon fortt is here. and today's "power lunch" contributor is jim iuorio. jim, i'm going to start with you, if i could. how do you feel about apple? i'm starting with you really because the rebound in the stock, everybody's talking about it down here. what do you make of that? >> as a company i feel great about apple but i have to push that aside because we're talking about the stock price here. even if we correctly identified why apple was trading lower for the last couple weeks, as strictly a tax thing, that doesn't mean that
CNBC
Dec 7, 2012 4:00am EST
note. shanghai composite gained 1.6% and it's up over 4% on the week. stocks related to citi growth continued to surge as the new urbanization plan is aiming to boost investment plan. agriculture stocks up today on support policies. hang seng dragged lower by utility stocks. picc staged a strong trading debut gaining almost 7%. biggest ipo in two years with analysts expecting the stop stock to be included in major benchmark indices very soon. nikkei pulled back from its seven month low, but sharp shares soared over 8% adding to yesterday's 10% rally. investment talks are still on. south korea technology shashs and ship builders lent support to the kospi, but automakers were in reverse gear. us a railian equities up nearly 1% today with miners and banks ending higher. sensex trading lower by 0.2% back to you. >>> getting reports in from reuters that the tsunami measuring about a meter high is hitting the meyagi prefecture. just getting the report in this report. i don't know whether you can confirm or support that, amy. >> we don't have any information about that. we do however know
CNBC
Nov 29, 2012 9:00am EST
still want to know what happened to those $70 billion wa worth of bearer bonds in new york city. there's part of this sandy storm that we haven't heard anything about, there were vaults that were soaked that hold a lot of money. that are very, very wet. >> for the outfit that got hurt entry.ou did have to put in an >> not to mention a lot of law firms and things that were down here as well, had a lot of documents, old documents that were downstairs. >> we're still really figuring out what the impact of sandy was. >> a terrific article about stockton today, housing shortages happening in very strange areas, that was in bloomberg.com. the claims are still okay. they're not terrible. gdp was not bad. that's why again, if you settle the fiscal cliff, right now there's a combination of trying to pick up the pieces, which turn out to be harder and a sense of, well, wait a second, if you're a big company, why hire now if i'm going to have to fire later because of the cliff. >> in the premarket session, shares of tiffany taking a hit. the luxury goods taking a hit at 49 cents a share. a
CNBC
Dec 4, 2012 6:00am EST
time we've actually delivered the seat is 45 minutes. somebody in new york city called us and said, hey, i want to go down to florida and in 45 minutes they were on a plane. >> none of the -- >> none of the really small aircraft. >> i don't know what you do if you are on a three-hour flight if you are over 50. >> a small plane? >> no, there's no bathroom. >> our thanks to dean, good luck. >> for more of our disrupters coverage turn to thedisrupters@cnbc.com. >>> as we head to break, a look at the futures. they've been up a little bit. from currency trading for a few to a currency market for everyone. the potential of fxcm unlocked. nyse euronext. unlocking the world's potential. the potential of yelp unlocked. nyse euronext. unlocking the world's potential. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> we h
CNBC
Dec 5, 2012 11:00pm EST
there, and i feel terrible at the layoffs. i've got a ton of friends over at citi, but i would be happy if i were a shareholder. the stock went up on the news. never easy to change your mind. something we're asking of our politicians, they can't do that. but citigroup's management was willing to take the hard medicine for the shareholders. we hear endless negativity about china and europe, but the chinese market last night, it was a gigantic move signifying what might be the beginning of a new growth phase. have you checked european stocks lately? smoke show. hey, even i can get too gloomy. i've been critical of bank of america for its unfathomable top dollar acquisitions, including the ill-timed merrill lynch purchase and the ridiculous countrywide buy. i've chided these guys as being one gigantic law firm with a bank attached. that's how much their earnings have been dependent upon legal obligations. and that's what cuts them. bank of america led the dow today, broke out above $10. a level hasn't been seen in ages as the unsold homes dwindles, i think it probably goes higher. he
CNBC
Nov 30, 2012 2:00pm EST
state senator's plan to dissolve the city. he is your guest. happy friday, everybody. mandy will be back on monday. i'm brian sullivan. thank you very much for joining us. >>> stocks relatively in a holding pattern again all ahead of the fiscal cliff. we're not seeing big moves. people unwilling to take bets. we're going to get to bob pisani in just a minute. >>> but first we need to get to eamon javers with some breaking headlines from mitch mcconnell on the fiscal cliff. eamon? >> brian, we're getting a trial balloon here just within the past couple of minutes from mitch mcconnell. he's the senate republican leader responding now to the president's proposal of yesterday. mcconnell telling the "wall street journal" just within the past few minutes what he had's like to see are changes to ensitelement programs, he's floating the idea of means testing medicare and social security. that means that the rich would not be able to receive the same level of benefits that the poor would from those programs. that would save some money. he would also like to see some retirement age extension. obvi
CNBC
Dec 5, 2012 1:00pm EST
lost its mojo or does the company still have room to run? >>> and city, the big slash. knife coming down on 1,000 jobs. the cfo is set to speak about the shake-up right now and we will have the very latest on this very widely held stock which has been moving higher tod today. >>> we have a rally on our hands despite some downward pressure in apple. two of the biggest names in the most widely held stocks around, citi and apple topping the news this hour. headlines aren't good. apple right now is down about 4%. back in bear market territory, down 22% from their historic intraday high of $705 set back in september. right now shares are trading at $551.33. bob pisani joins me on the floor of the nyse. it started with this idc report citing the fact that they would lose their dominance in the tablet market in probably the next couple of years, and then the margin requirement story. >> it is a little complicated. i just want to address this issue first of the rally that we've got because i think that is sort of what's moving the overall market. there is some vague talk in washington that
CNBC
Dec 5, 2012 2:00pm EST
. the company's making bold moves. in early october it announced a deal to buy bp's massive texas city refinery and it launched a master limited partnership to boost its pipeline business. let's bring in gary hemminger, marathon petroleum president and ceo. gary, thanks for joining us. congrats on what's been a big year. i want to ask you first before we get into the other stuff about oil prices. the spread between wti and brent has really kind of gone crazy the last couple of years. does that help you guys? >> well, brian, we think that's really the catalyst of our earnings. if you look at the wti/brent spread and really look at where this crude is coming from in the u.s., from the barnett, to the eagleford, to the permeon, and now to the utica in ohio where our home base is, you look at all the different production coming on in the u.s. as this production is trying to find a home, it's certainly widening those spreads. >> so where do you see it going then? >> that's a great question. it is a great question as we look at the business going forward here. i think one of the key question
CNBC
Dec 5, 2012 6:00am EST
surprise me anymore. you could get sarah jessica parker. i don't know. take your pick. "sex & the city." >> yeah. and you've got me. is that okay? >> kate might be having twins. yeah, go ahead. >> we're getting down to the flat line at the moment. we had a bit of a bounce this morning. european stocks yesterday very flat indeed. about as flat as the pancakes i make. take a look at the european board. we're down just up eight points. the ibex actually down five. very disappointing retail sales out of the eurozone for the month of october. follows a shop revision downwards as well for september. so austerity really biting in. despite some better data out -- well, i say better. the services pmi final print for the eurozone came in up better than expected, but it's still deeply in contraction territory. so we're firmly in recession here in the eurozone and in the uk as well. we saw services pmi come in weaker than expected. contraction territory for new orders -- this is the british chancellor today. george osbourne will be delivering his autumn statement where he's probably going to say g
CNBC
Dec 7, 2012 6:00am EST
showers parts of the southeast coast. nation's midsection, some snow showers in the twin city, dallas looking beautiful with 72 degrees. out west, looks like all of the moisture will be limited to parts of the made civic northwest. high mountain, cascades. snow could be over a foot 7,000 feet and up. ski country, fantastic. so that's certainly the good news in that part of the world. in term of your air travel, backups are possible in chicago. rain is the issue. low clouds, too, limiting visibility. but minneapolis, new york, miami, miami is misspelled. i'll stand in front of that. miami and seattle, you can see just minor delays there. let's send it back to you. >> good job, reynolds blocking maimi. >> if you could talk to someone about snow in the rocky, would you? >> are you going up? >> eventually. >> steamboat springs will see over a foot of snow between now and sunday. >> that's good start. but we didn't know anything about january or february? >> not yet. >> if you get a chance to hit those maps to move stuff over the rocky, if you could. >> we'll do what we can. >> in
CNBC
Dec 5, 2012 3:00pm EST
underweight financials. we've moved to more of a neutral weight. citi is one of the names we're overweight. it's a shame for the folks who have lost their job, but it's a nice move today. >> 7.5%. bank of america, 6%. thanks, guys. >> thank you very much. see you later. as a matter of fact, the financials are leading us higher. we're near the highs of the session right now with about 50 minutes left. the dow up 124 points. >> pretty good move. if you can own only one stock in 2013, which one would make you the most money? top fund managers were asked that question. we have their answers. we have names coming up. stay with us. >> get pencil to paper. >>> also ahead, the art of negotiation. we're going to hear from somebody who says a deal on the fiscal cliff could have already been reached if only lawmakers took a page out of wall street's deal making strategy of keeping things behind closed doors. where have we heard that before? >>> plus, secretary tim geithner with us exclusively. will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for t
CNBC
Dec 5, 2012 7:00pm EST
president obama he should bail out detroit bankrupt city government, too. this sure isn't the free market, and i asked why should a texas taxpayer bail out detroit? >>> breaking news from syria, and it is a blockbuster. the assad regime is walking and loading its chemical weapons, ready to use them on its own people. nbc's chief pentagon correspondent joins us now. jim, is this the red line president obama was warning about? >> well, not quite yet. u.s. officials tell us that the syrian military is poised to use chemical weapons against their own people, and all it would take really is the final order from syrian president assad. but we have learned that as of today, all the precursored chemicals for that deadly nerve gas have in fact now been loaded on to aerial bombs, but those bombs are still in the depots. they haven't been loaded on to airplanes yet, and president assad hasn't given the order. but they're pretty close, larry, and that's why earlier this week, of course, president obama issued a very strong statement aimed at president assad saying look, if you use these weapon
CNBC
Dec 4, 2012 6:00pm EST
onboard. city national is a business bank also they cater to the wealthy. mostly in southern california and nevada new york city. this is a well run bank. let's check in with russell goldsmith and find out where this might be headed. i don't know anyone in this world who has the pulse of wealthy people the way you do. i need to know whether they are quaking about the increase of possible capitol gains. >> great to be with you. appreciate the support. i think we have been seeing for well over six months. it falls into two groups. people are sitting on their hands. deals are getting called off. i'm not going to borrow until i know where they are going to drive the dconnieconomy. there is always a slice of people who see opportunity with that. i would say a small minority have done. but most people are sitting on the sls waiting to know what is my health care cost and depression schedule. >> you have these big banks moving into wealth management. pushing products that maybe you are shorting on the right side. we try to traailor it. we have a full array to meet the needs of our clients. you
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